She had succeeded in placing a king of her own royal house on a neighboring throne, but her sea strength was exhausted, her population diminished, her financial condition ruined.

The European territory surrendered was on her northern and eastern boundaries; and she abandoned the use of the port of Dunkirk, the centre of that privateering warfare so dreaded by English merchants.

In America, the cession of Nova Scotia and Newfoundland was the first step toward that entire loss of Canada which befell half a century later; but for the present she retained Cape Breton Island, with its port Louisburg, the key to the Gulf and River St.Lawrence.
The gains of England, by the treaty and the war, corresponded very nearly to the losses of France and Spain, and were all in the direction of extending and strengthening her sea power.

Gibraltar and Port Mahon in the Mediterranean, and the colonies already mentioned in North America, afforded new bases to that power, extending and protecting her trade.

Second only to the expansion of her own was the injury to the sea power of France and Holland, by the decay of their navies in consequence of the immense drain of the land warfare; further indications of that decay will be given later.